Princeville, HI

Aloha,

We're seeing some movement in the market as those sellers who really want to sell are reducing to the point that buyers are seeing value. Also selling are the foreclosures and even some of the short sales, although it takes a patient buyer to stay in escrow until the end. Here is your update for this week-

Copyright 8/16/2009 by Hawaii Information Service

NEW LISTINGS
226519 T A 4 4-5-4-5-23-14 FS $495,000 Plantation At Princeville #412 1,153 #412 2/2
226466 T A 6 4-5-4-5-16-36 FS $940,000 Alii Kai At Hanalei #4304 1,086 #4304 2/2

CONTINGENT SALES
225806 T C 31 4-5-4-5-24-40 FS $489,900 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
222926 T C 127 4-5-4-5-24-66 FS $565,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5

SALES
220199 T S 131 4-5-4-5-13-4 FS $289,900 Kamahana #4 1,145 #4 2/2
SOLD 8/12/2009 for $276,000 (CASH) DOM 131

210693 T S 375 4-5-4-5-24-28 FS $650,000 Nihilani At Princeville Resort #10A 1,874 #10A 3/2.5
SOLD 8/14/2009 for $645,000 (CNV) DOM 375

221737 T S 87 4-5-4-12-8-21 FS $795,000 Pali Ke Kua Ii #228 1,135 #228 2/2
SOLD 8/12/2009 for $725,000 (CASH) DOM 87

EXPIRED
214741 T X 364 4-5-4-5-23-66 FS $578,000 Plantation At Princeville #1712 1,153 #1712 2/2

WITHDRAWN
208801 T W 488 4-5-4-11-3-84 FS $329,000 Hanalei Bay Resort #N22 867 #N22 1/2
204020 T W 620 4-5-4-12-2-28 FS $380,000 Hale Moi #208 1,033 #208 2/2
223148 T W 107 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
217123 T W 287 4-5-4-5-23-34 FS $579,000 Plantation At Princeville #912 1,153 #912 2/2

PRICE CHANGES
196998 T A 796 4-5-4-15-21-43 FS $318,000- Sandpiper Village I #206 1,173 #206 2/2.5
223270 T A 123 4-5-4-5-27-19 FS $325,000- Hale Honu #10A 1,085 #10A 3/2
226111 T A 19 4-5-4-15-21-54 FS $391,900- Sandpiper Village I #217 1,173 #217 2/2.5
214167 T A 382 4-5-4-12-8-24 LH $399,000- Pali Ke Kua Ii #130 1,100 #130 2/2
212901 T A 391 4-5-4-5-16-37 FS $649,000- Alii Kai At Hanalei #5101 1,086 #5101 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

New this week is Plantation 412 listed for $495K. This unit last sold for $405K in 9/05 from the developer. Ali'i Kai 4303, purchased for $541,500 in 2/04 and listed for $940K is the only other new listing this week.

It comes as no surprise that the Nihilani Makani floorplan unit 14A went into escrow after only 25 days on the market. With a list price of $489,900 is was well below what other Makani units have sold for recently. This unit last sold for $761,450 in 3/06 and was foreclosed on by the bank in 6/09. Also going into escrow was a second Nihilani Makani floorplan unit 22C, which is a short sale. This beautifully upgraded and furnished unit was purchased from the developer in 11/06 for $848,956 and featured upgraded cabinets and bathrooms along with mountain, golf course and lake views. It was originally listed for $620K but reduced quickly during the 127 days on the market.

It's a sign of times improving when there are multiple sales to report starting with bank REO Kamahana 4 which was listed for $289,900 and sold for $276K this week. The seller purchased this unit for $499K in 9/05 but it was foreclosed on by the bank on 2/09. We have another Nihilani unit in the news, unit 10A which is one of the developer's Makani units which sold for $645K with a list price of $650K. Slowly but surely Brookfield is closing out their inventory and offering concessions along the way. They recently reduced one of their Hoku units, 3B, from $550K to $485K in an effort to attract a buyer. I personally like the reverse floor plan Hoku, which is the floorplan I purchased. At the time of construction, the downstairs family rooms could be converted to a third bedrooms which I felt was a much better use of the space. Although 3B is only a 2 bedroom at this time, I'm sure you could convert to a 3 bedroom without too much trouble. Also selling this week is Pali Ke Kua 228 which was purchased as a leasehold for $236,800 in 4/98 and converted to fee simple in 12/99 for $43,800. Listed for $795K it closed at $725K and is one of the rare transactions that yielded a capital gain!

Plantation 1712, listed for $578K expired after a year on the market without any price reductions. This unit last sold in 2/08 for $515K.

Hanalei Bay Resort N22 was withdrawn from the market after 488 days of exposure. It started out listed at $550K and reduced over time to $329K. This unit was purchased for $469,900 in 1/06. Hale Moi 208 which started out at $495K and reduced to $380K during the 620 days on the market was withdrawn. Unit 208 last sold for $215K in 11/01. Puamana 20A was only on the market for 107 days when it was withdrawn. Listed for $382,700 it last sold in 9/01 for $170K. Plantation 912 was withdrawn after 287 days with no price reductions while listed at $579K. This unit was purchased for $599K in 10/05 which left the seller with no room for negotiations.

Moving on to price reductions we have Sandpiper 206, which reduced from $325K to $318K. Initially listed at $525K, this unit has been on the market almost 800 days and was last purchased for $114,500 in 11/99. It faces onto Ka Haku Road which means it has golf course, mountain, lake and waterfalls views. I've shown this unit several times and used to own in Sandpiper. Considering how "rentable" these units are and given the current price, I'm surprised to see this one still on the market. Take a look at all the Sandpipers on the market and compare. Please note that there are two floor plans with the downstairs units being smaller than the upstairs:

Copyright 8/16/2009 by Hawaii Information Service
224335 T A 82 4-5-4-15-21-11 FS $275,000 Sandpiper Village I #111 1,042 #111 2/2
225703 T A 37 4-5-4-15-21-34 FS $275,000 Sandpiper Village I #134 1,042 #134 2/2
196998 T A 796 4-5-4-15-21-43 FS $318,000 Sandpiper Village I #206 1,173 #206 2/2.5
226309 T A 17 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2
206436 T A 556 4-5-4-15-21-7 FS $329,000 Sandpiper Village I #107 1,042 #107 2/2
226111 T A 19 4-5-4-15-21-54 FS $391,900 Sandpiper Village I #217 1,173 #217 2/2.5
181966 T A 430 4-5-4-15-21-50 FS $399,999 Sandpiper Village I #213 1,173 #213 2/2.5

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Hale Honu 10A, which last sold for $510K in 8/05, reduced from $399K to $325K. This short sale started out at $438K when it first came on the market. Sandpiper 217 which last sold for $310K in 2/04, also reduced, going from $399,900 to $391,900. Pali Ke Kua 130, an agent owned lease hold unit purchased in 3/06 for $429K, went from $449K to $399K. Ali'i Kai 5101, which offers a nice ocean view, wins the price reduction of the week award going from $749K to $649K. This unit started out at $849K and last sold in 5/04 for $595K. Judging from this last price reduction, I'd say this seller is more than eager to sell so bring your buyers. On to your Princeville Homes update:

Copyright 8/16/2009 by Hawaii Information Service

NEW LISTINGS
226493 RS A 5 4-5-4-19-16 FS $967,000 5112 Napo'okala Cir 15,320 sqft 2,196 3/2.5
221067 RS A 4 4-5-4-14-17 FS $1,375,000 3835 Albert Rd 10,579 sqft 2,743 3/3.5
225837 RS A 2 4-5-4-7-6 FS $1,895,000 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5
226733 RS A 2 4-5-4-18-10 FS $3,650,000 4184 Mahina Pl 12,200 sqft 3,927 3/3.5

BACK ON THE MARKET
223822 RS A 104 4-5-4-13-6 FS $613,100 3695 Kaweonui Rd 11,121 sqft 2,492 4/2

WITHDRAWN
223228 RS W 121 4-5-4-20-32 FS $950,000 5145 Kapi'olani Loop #III 9,826 sqft 1,920 3/2

PRICE CHANGES
214429 RS A 373 4-5-4-16-41 FS $725,000- 4136 Kekaulike Ln 10,500 sqft 3,024 3/3
220531 RS A 190 4-5-4-13-44 FS $840,000- 3646 Kaweonui Rd #II 10,937 sqft 2,240 3/2
222122 RC A 157 4-5-4-4-46 FS $1,595,000- 4901 Hanalei Plant Rd 1.41 ac 1,802 4/2
225022 RC A 157 4-5-4-4-46 FS $2,695,000- 4901 Hanalei Plant Rd 2.49 ac 1,802 4/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

That's it for this week. There's quite a few good buys to be had which will not always be the case. Don't miss out on this buying opportunity. Just don't forget to call or email for the facts before you buy or sell.

Aloha Elaine

My horse "Bics" gets a small but steady hand from her friend Michelle.

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!

Aloha,

Here we are in the last month of Summer and real estate has held it's same sluggish pace. Most buyers feel that waiting can only benefit them, and to some degree, I have to agree. However, there are some properties that are so competatively priced that I'm really surprised they are not in escrow. I also agree that many of the properties on the market are still overpriced - and will remain that way until the sellers either decide they really want to sell and reduce or they take their property off the market until things improve. We Realtors can only wish for this to happen!

Here is your update for this week:

Copyright 8/9/2009 by Hawaii Information Service

NEW LISTINGS
226457 SH A 5 4-5-4-5-23-9 FS $135,000 Plantation At Princeville #311 1,153 #311 2/2
226523 T A 3 4-5-4-5-4-5 FS $239,000 Princeville Mauna Kai #5A 1,503 #5A 2/2
226280 T A 6 4-5-4-5-23-51 FS $625,000 Plantation At Princeville #1321 1,318 #1321 3/3
226233 T A 3 4-5-4-6-1-59 FS $795,000 Villas Of Kamalii #59 1,766 #59 3/3

CONTINGENT SALES
221842 T C 157 4-5-4-12-3-32 FS $899,000 Hanalei Bay Villas #32 1,248 #32 2/2

SALES
221018 T S 99 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2
SOLD 8/6/2009 for $585,000 (CNV) DOM 99

UNDER CONTRACT
221360 T U 148 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2

EXPIRED
214648 T X 365 4-5-3-6-22-2 FS $2,195,000 Kaiulani Of Princeville #2 2,843 #2 3/3.5
214427 T X 365 4-5-4-5-17-23 FS $499,000 Alii Kai Ii Hanalei #10G 1,037 #10G 2/2

WITHDRAWN
223363 T W 109 4-5-4-5-4-5 FS $259,000 Kaeo Kai Ph I #5A 1,503 #5A 2/2
222557 T W 132 4-5-4-11-3-125 FS $850,000 Hanalei Bay Resort #R17 867 #3105-6 1/2

PRICE CHANGES
222344 SH A 143 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
226523 T A 3 4-5-4-5-4-5 FS $239,000- Princeville Mauna Kai #5A 1,503 #5A 2/2
204020 T A 619 4-5-4-12-2-28 FS $380,000- Hale Moi #208 1,033 #208 2/2
210598 T A 453 4-5-4-5-24-8 FS $485,000- Nihilani At Princeville Resort #3B 1,567 #3B 2/2.5
216340 T A 310 4-5-4-5-23-41 FS $499,000- Plantation At Princeville #1111 1,153 #1111 2/2
218864 T A 242 4-5-4-5-23-11 FS $649,000- Plantation At Princeville #321 1,318 #321 3/3
211272 T A 449 4-5-4-5-16-35 FS $795,000- Alii Kai At Hanalei #4303 1,086 #4303 2/2
207497 T A 531 4-5-4-11-3-49 FS $950,000- Hanalei Bay Resort #J11 1,324 #7101-2 Banana 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Plantation 311 is our first new listing this week and is offering a fractional share for $135K. This unit made some money for the original purchaser who bought it from the developer for $405K on 6/05 and immediately sold it to the current owner for $539K. Mauna Kai 5A, which last sold in 8/02 for $200K, is back as an REO listed at $239K. This unit was just withdrawn while listed as an REO which started at $319,900 in 4/09 and reduced down to $259K in 8/09 at which time it was withdrawn and relisted. Prior to this, it was listed for over 400 days in an effort to find a buyer but was unsuccessful. Also new this week in the Plantation complex is unit 1321, listed for $625K. This unit last sold for $523,993 in 11/05. Villas of Kamali'i 59, listed for $705K is the last entry and last sold for $586K in 4/04.

Hanalei Bay Villas 32, listed at $899K went into escrow after only 151 market days. It last sold for $950K in 11/05 and will undoubtedly be a tax write off.

Sealodge J1 closed this week at $585K after being listed for 99 days for $615K. This unit last sold for $325K in 9/02 bringing this seller welcome capital gains. Hale Moi 216 moved to under contract from contingent. Listed for $345K this unit sold for $460K in 3/05 and will also yield a tax write off.

One of the developer's Ka'iulani units, #2 expired after 365 days while listed for $2.195M. Ali'i Kai 10G expired while listed at $499K. During the 365 days it was listed, there was one price reduction from $599K to $499K in 5/09. This unit last sold for $129,500 in 6/89.

Mauna Kai 5A, also known as Ka'eo Kai, was withdrawn after 109 days listed as an REO at $259K. You saw this unit earlier as a new listing in this report. Hanalei Bay Resort 3105-6 was withdrawn listed at $850K after 132 days on the market. It came onto the market at $825K and increased to $850K which is where it stayed for the life of the listing. This unit was puchased for $895K in 5/05 leaving this seller with no room for negotiations.

On to our price changes. A fractional share of Plantation 621 reduced from $165K to $150K. This unit was purchased for $550K in 8/05. Mauna Kai 5A, which was relisted this week initially at $259K went quickly down to $239K. Hale Moi 208,which last sold for $215K in 11/01 reduced from $399K to $380K. This unit started at $485K. The developer's Nihilani 2 bedroom 2.5 bath Hoku unit 3B was reduced from $550K to $485K. At one point, this unit was listed for $603,300. Plantation 1111 went from $580K to $499K and last sold in 11/05 from the developer for $430K then was immediately flipped for $598,402 to the present owner. Plantation 321 reduced from $659K to $649K. This unit last sold for $435K from the developer in 7/05. Ali'i Kai 4303 initially increased in price from $830K to $840K on 8/4 after 445 days on the market without a sale. It then went from $840K to $795K on 8/06 and last sold for $490K in 12/03. Hanalei Bay Resort 7101-2, purchased for $504,145 in 9/03 reduced from $998K to $950K.

Now on to your Princeville Home update:

Copyright 8/9/2009 by Hawaii Information Service

NEW LISTINGS
226491 RS A 4 4-5-4-23-38 FS $525,000 3812 Iluna Pl 6,895 sqft 1,310 3/2

BACK ON THE MARKET
220820 RS A 173 4-5-4-13-40 FS $995,000 3618 Keoniana Rd 12,013 sqft 3,081 4/3.5

CONTINGENT SALES
223822 RS C 97 4-5-4-13-6 FS $613,100 3695 Kaweonui Rd 11,121 sqft 2,492 4/2

WITHDRAWN
224336 RS W 75 4-5-4-23-38 FS $525,000 3812 Iluna Pl 6,895 sqft 1,310 3/2

PRICE CHANGES
219545 RS A 219 4-5-4-22-26 FS $545,000- 4372 Emmalani Dr 11,390 sqft 1,294 3/2
225252 RS A 45 4-5-4-21-10 FS $889,000- 3836 Kaweonui Rd 10,018 sqft 2,016 3/3

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

That's it for this week. Don't forget to call or email with your requests for the facts - before you buy or sell. Have a great week!

Aloha Elaine
Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!

Aloha,

It was another beautiful week in Paradise but not many buyers seem moved to want to jump into the market. While we do have some new escrows and one that went under contract, we have not seen the number of buyers expected what with the many great buys on the market. There's something for everyone, regardless of the price range, if you just take the time to look. Here is your update for this week:

Copyright 8/1/2009 by Hawaii Information Service

NEW LISTINGS
226124 T A 5 4-5-4-5-3-3 FS $239,000 Princeville Paniolo #103 1,058 #103 1/2
226309 T A 2 4-5-4-15-21-23 FS $325,000 Sandpiper Village I #123 1,042 #123 2/2
226111 T A 4 4-5-4-15-21-54 FS $399,900 Sandpiper Village I #217 1,173 #217 2/2.5
226346 T A 1 4-5-4-6-1-34 FS $775,000 Villas Of Kamalii #34 1,825 #34 3/3
226241 T A 2 4-5-4-6-1-20 FS $995,000 Villas Of Kamalii #20 1,825 #20 3/3

CONTINGENT SALES
221360 T C 156 4-5-4-12-2-36 FS $345,000 Hale Moi #216 1,033 #216 2/2
223040 T C 94 4-5-4-11-3-127 FS $650,000 Hanalei Bay Resort #R25 867 #3201-2 Guava 1/2

UNDER CONTRACT
222342 SH U 129 4-5-4-5-23-23 FS $150,000 Plantation At Princeville #621 1,318 #621 3/3

PRICE CHANGES
222343 SH A 135 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
207634 T A 527 4-5-4-5-39-16 FS $259,000- Cliffs At Princeville #1206 917 #1206 1/2
224707 T A 47 4-5-4-12-2-16 FS $297,500- Hale Moi #116 1,033 #116 1/2
214486 T A 362 4-5-4-5-18-89 FS $325,000- Puamana #24D 1,532 #24D 2/2
219219 T A 262 4-5-4-5-30-20 FS $325,000- Princeville Mauna Kai #D302 1,488 ##25 3/2
223270 T A 108 4-5-4-5-27-19 FS $399,000- Hale Honu #10A 1,085 #10A 3/2
223649 T A 90 4-5-4-5-13-13 FS $449,000- Kamahana #13 2,073 #13 3/2
226115 T A 292 4-5-4-5-24-50 FS $517,000+ Nihilani At Princeville Resort #17B 1,567 #17B 3/2.5
222926 T A 112 4-5-4-5-24-66 FS $565,000- Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5
216921 T A 291 4-5-4-5-23-3 FS $678,000- Plantation At Princeville #121 1,318 #121 3/3
211355 T A 442 4-5-4-12-5-5 FS $743,000- Pali Ke Kua Incr I, ii, iii #105A 717 #105A 1/1
226346 T A 1 4-5-4-6-1-34 FS $775,000+ Villas Of Kamalii #34 1,825 #34 3/3
211272 T A 441 4-5-4-5-16-35 FS $830,000- Alii Kai At Hanalei #4303 1,086 #4303 2/2
202256 T A 630 4-5-4-12-11-7 FS $1,450,000- Puu Poa #107 2,065 #107 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

I guess you can still flip property in this market if you do so conservatively. For example, Paniolo 103 just sold on 7/20 for $184,900 while listed as a Fannie Mae foreclosure for $209,900. After some interior paint, refurbished lanai and doors, it is back on the market this week priced at $239K, making it the second least expensive condo (beaten only by Cliffs 2103 at $230K which is a short sale) in Princeville. Sandpiper 123, listed for $325K last sold for $359K in 8/04. Also listed is Sandpiper 217, which last sold for $310K in 2/04. It is back on the market as a new listing after 4 prior efforts at selling. It was listed from 12/05 to 9/06 starting at $525K, increasing to $539K and ending at $528K when it was withdrawn after 272 market days. It came back on the market 6/07 to 12/07 listed for $499K and dropping to $475K when it was again withdrawn. It was then listed from 10/08 to 12/08 for $499K and expired with 72 DOM. The last listing was from 1/09 to 7/09 where it started at $420K and reduced to $399,900, which is what it is now listed for, before it was withdrawn. Hopefully the seller will have better luck this time.

Villas of Kamali'i 34 was purchased for $670K in 12/04 and is now listed for $775K. This unit was previously listed briefly in 6/07for 19 days at $859Kand again from 1/08 to 8/08, starting at $920K and decreasing to $849K before expiring with 233 market days. Villas of Kamali'i 20 is on the market for $995K after selling in 6/08 for $845. This unit was listed for 423 days from 5/08to 7/09 as a fractional but it appears the seller is tabling that concept until the market picks back up.

Hale Moi 216 found a buyer and went into escrow this past week after reducing to $345K from $395K on 6/19. This unit last sold for $459K in 3/05 and will undoubtedly be providing a nice tax write off for the seller. Hanalei Bay Resort 3201/2, purchased for $240K in 4/92 went into escrow listed at $650K. Fortunately, we're not back to 92 pricing so this seller will see some rare capital gains.

A fractional share of Plantation 621 went under contract while listed at $150K. This unit sold for $550K in 8/05.

Another fractional share of Plantation 121 reduced from $165K to $150K. Cliffs 1206 also reduced this week from $275K to $259K. This unit sold in 9/05 for $520K. Hale Moi 116 continues its strong effort to find a buyer, reducing again this week from $314K to $297,500. Purchased in 10/04 for $459K, this short sale now stands a good chance of finding a buyer with its competing upstairs neighbor, unit 216, now in escrow. Puamana 24D, which last sold for $268K in 9/03 reduced from $349K to $325K. Mauna Kai 25, a nice big unit 3 bedroom 2 bath unit made a huge price reduction right into short sale territory, going from $494,500 to $325K. The last purchase price was for $585K in 8/07. Hale Honu 10A was purchased for $510K in 8/05 and reduced from $438K to $399K. Kamahana 13, purchased for $640K in 10/05 reduced from $475K to $449K while Nihilani 17B made a price change upwards for the sole purpose of appearing once again on the daily update, going from $515K to $517K. This unit sold for $637,113 from the developer in 7/06. Another Nihilani unit 22C, which waspurchased from the developer in 11/06 for $848,956, reduced from $569K to $565K as a short sale. Plantation 121, purchased by an agent for $488,993 in 5/05 reduced from $685K to $678K. Pali Ke Kua 105, which last sold for $795K in 8/07, made a minor price reduction from $745K to $743K for the purpose of maintaining a presence on the daily update. Villas of Kamali'i 34, which we saw this week as a new listing, apparently came on at $769K and was immediately increased to $775K. Ali'i Kai 4303 went from $860K to $830K and was purchased for $490K in 12/03. Although Pu'u Po'a 107 reduced from $1.490M to $1.450M it is still the more expensive units in the complex.

Copyright 7/29/2009 by Hawaii Information Service

225541 T A 23 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
222345 T A 131 4-5-4-12-11-3 FS $1,259,000 Puu Poa #103 1,354 #103 2/2
200456 T A 693 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
202256 T A 627 4-5-4-12-11-7 FS $1,450,000 Puu Poa #107 2,065 #107 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Now on to your Princeville house update:

Copyright 8/1/2009 by Hawaii Information Service

NEW LISTINGS
226182 RS A 4 4-5-4-16-7 FS $950,000 5029 Emmalani Dr 10,500 sqft 3,304 4/3

BACK ON THE MARKET
221222 RS A 152 4-5-4-25-4 FS $2,800,000 5174 Hanalei Plantation 16,307 sqft 4,215 3/3

UNDER CONTRACT
225957 RS U 10 4-5-4-18-31 FS $695,000 4226 Kina'u Pl 11,078 sqft 3,496 4/5

EXPIRED
213870 RS X 372 4-5-4-6-12 FS $565,000 4154 Lei O Papa Rd 11,369 sqft 1,544 2/2

TEMPORARILY WITHDRAWN
220108 RS T 187 4-5-4-16-19 FS $770,000 4064 Kaa'humanu Pl 12,058 sqft 2,274 3/2
220949 RS T 163 4-5-4-20-14 FS $1,395,000 5118 Iolani Pl 19,012 sqft 3,918 3/3.5
218120 RS T 252 4-5-4-8-62 FS $1,475,000 3812 Punahele Rd 14,573 sqft 2,900 3/2

PRICE CHANGES
223366 RS A 106 4-5-4-15-1 FS $471,900- 3995 Kamehameha Rd 10,244 sqft 2,117 3/2
224336 RS A 71 4-5-4-23-38 FS $525,000- 3812 Iluna Pl 6,895 sqft 1,310 3/2
222745 RS A 123 4-5-4-23-35 FS $599,000- 3793 Moae Pl 6,386 sqft 1,651 3/2
200621 RS A 707 4-5-4-21-7 FS $858,500- 3770 Cr Kaweonui Rd/alber 10,737 sqft 2,184 3/2.5
210722 RS A 458 4-5-4-18-7 FS $997,000- 4170 Mahina Pl 10,751 sqft 2,310 2/3.5

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

As you can see, the house on Kina'u Place listed for $695K went under contract in record time. Just goes to show, if you really want to sell you really need aggressive pricing. Don't hesitate to call or email for your update before buying or selling. You don't want to make a move without the facts. Have a great week!

Aloha Elaine

The Hawaii goose the "Nene."

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!

Aloha,

Per the Friday Garden Island newspaper "Heavy summer rains led to flash flood warnings Thursday, soaking anything outdoors and twice closing the Hanalei Bridge. The bridge, first closed at 10:45 a.m., was reportedly reopened at 2:45 p.m., but was later closed again. Furthermore, a road crew with the state Department of Transportation was forced to clear a mudslide on Kuhio Highway in the Kalihiwai area, closing one lane of traffic, said a press release from county spokesperson, Mary Daubert. At 12:46 p.m., rain gauges and radar showed heavy rain falling at 4 inches per hour over windward Kaua‘i and was nearly stationary, according to the National Weather Service in Honolulu."

Wouldn't you know, an agent had a showing scheduled at one of my listings in Wainiha on Friday but had to cancel. Sometime Mother Nature intervenes and simply takes over. Despite the heavy rains, we ended the week filled with sunshine along with some properties closing and going into escrow. Here is your update for last week

Copyright 7/26/2009 by Hawaii Information Service

NEW LISTINGS
225648 T A 7 4-5-3-6-22-74 FS $979,000 Kaiulani Of Princeville #74 1,892 #74 2/2.5
225775 T A 4 4-5-4-5-18-15 FS $525,000 Puamana #4C 1,532 #4C 2/2

CONTINGENT SALES
211781 T C 419 4-5-4-5-3-24 FS $324,900 Princeville Paniolo #211 1,058 #211 1/2

SALES
221121 T S 139 4-5-4-5-3-3 FS $209,900 Princeville Paniolo #103 1,058 #103 1/2
SOLD 7/20/2009 for $184,900 (CASH) DOM 139

UNDER CONTRACT
221018 T U 99 4-5-4-5-12-28 FS $615,000 Sealodge Ii #J1 754 #J-1 2/2

EXPIRED
222685 T X 477 4-5-4-6-1-12 FS $875,000 Villas Of Kamalii #12 1,825 #12 3/3

WITHDRAWN
211499 SH W 423 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211496 SH W 423 4-5-4-6-1-20 FS $250,000 Villas Of Kamalii #20 1,825 #20 3/3
211500 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211498 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211497 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
211495 SH W 423 4-5-4-6-1-20 FS $265,000 Villas Of Kamalii #20 1,825 #20 3/3
225032 T W 25 4-5-4-5-30-19 FS $299,000 Princeville Mauna Kai #D301 1,488 #26 3/2
210027 T W 472 4-5-4-5-30-6 FS $340,000 Princeville Mauna Kai #F6 1,400 #5 3/2
219527 T W 199 4-5-4-15-21-54 FS $399,900 Sandpiper Village I #217 1,173 #217 2/2.5
224662 T W 48 4-5-4-5-24-46 FS $575,000 Nihilani At Princeville Resort #16A 1,406 #16A 2/2
216008 T W 301 4-5-4-12-11-47 FS $1,500,000 Puu Poa #405 1,800 #405 2/2

TEMPORARILY WITHDRAWN
222619 SH T 103 4-5-4-12-3-8 FS $465,000 Hanalei Bay Villas #8 1,244 #8 2/2.5
222618 T T 103 4-5-4-12-3-8 FS $875,000 Hanalei Bay Villas #8 1,244 #8 2/2.5

PRICE CHANGES
206220 T A 538 4-5-3-6-22-67 FS $994,500- Kaiulani Of Princeville #67 1,781 #67 2/2.5
222341 SH A 129 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
196334 SH A 793 4-5-4-6-1-42 FS $185,000- Villas Of Kamalii #42 1,825 #42 3/3
208860 SH A 487 4-5-4-5-23-35 FS $190,000- Plantation At Princeville #921 1,318 #921 3/3
196328 SH A 793 4-5-4-6-1-42 FS $199,000- Villas Of Kamalii #42 1,825 #42 3/3
224335 T A 61 4-5-4-15-21-11 FS $275,000- Sandpiper Village I #111 1,042 #111 2/2
225976 T A 8 4-5-4-12-2-15 FS $325,000- Hale Moi #115 1,033 #115 1/2
204020 T A 605 4-5-4-12-2-28 FS $399,000- Hale Moi #208 1,033 #208 2/2
226115 T A 286 4-5-4-5-24-50 FS $515,000- Nihilani At Princeville Resort #17B 1,567 #17B 3/2.5
211355 T A 436 4-5-4-12-5-5 FS $745,000- Pali Ke Kua Incr I, ii, iii #105A 717 #105A 1/1

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

There are two new listings this week: First up is Ka'iulani 74, listed for $979K. This unit last sold for $898,250 in 4/07. Next is Puamana 4C, which last sold for 4/07 for $487K and is now listed for $525K. This price puts it at the high end of the current Puamana listings. See below:

Copyright 7/26/2009 by Hawaii Information Service

222149 T A 136 4-5-4-5-18-1 FS $325,000 Puamana #1A 1,312 #1A 2/2
214486 T A 356 4-5-4-5-18-89 FS $349,000 Puamana #24D 1,532 #24D 2/2
221307 T A 152 4-5-4-5-18-86 FS $370,000 Puamana #24A 1,312 #24A 2/2
223148 T A 88 4-5-4-5-18-71 FS $382,750 Puamana #20A 1,532 #20A 2/2
221962 T A 139 4-5-4-5-18-30 FS $385,000 Puamana #8C 1,532 #8C 2/2
206918 T A 732 4-5-4-5-18-91 FS $385,000 Puamana #25B 1,532 #25B 2/2
225622 T A 18 4-5-4-5-18-39 FS $400,000 Puamana #11B 1,673 #11B 3/3
218778 T A 233 4-5-4-5-18-60 FS $425,000 Puamana #17A 1,312 #17A 2/2
216508 T A 290 4-5-4-5-18-38 FS $499,500 Puamana #11A 1,312 #11A 2/2
225775 T A 4 4-5-4-5-18-15 FS $525,000 Puamana #4C 1,532 #4C 2/2
217229 T A 270 4-5-4-5-18-6 FS $549,000 Puamana #2B 1,532 #2B 2/2
191813 T A 887 4-5-4-5-18-21 FS $579,000 Puamana #6B 1,732 #6B 3/2
223620 T A 84 4-5-4-5-18-47 FS $599,000 Puamana #13C 1,532 #13C 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

One property went into escrow, Paniolo 211, which last sold for $125K as a leasehold in 12/99 and was converted to fee simple in 2/03 for $45K. This unit was listed at $324,500. Another Paniolo, unit 103 which was a Fannie Mae foreclosure, listed at $209,900 closed this week at $184,900. This unit sold for $410K in 4/05 and was taken over by the bank in 1/09. Sealodge J1, priced at $615K, with a purchase price of $325K in 9/02 went from in escrow to under contract. We should see this unit closing within the next week or two.

Villas of Kamali'i 12, which sold for $750K in 6/05 expired while listed for $875K after 477 days on the market. This unit came on the market on 3/08 at $900K and expired in 3/09 at the same price. It came back on the market at $875K and stayed at that price until it expired this time.

The fractional shares of Villas of Kamali'i 20, which sold for $845K in 6/08 were withdrawn from the market as was Mauna Kai 26, which was a short sale at $299K. This unit last sold for $525K in 10/06 and offered quite a bit of square footage for the price. Maybe we'll see this one going into foreclosure next. Mauna Kai F6, also a short sale at $340K, with a purchase price of $431,650 in 11/04 may be facing a similar fate since it too was withdrawn. Sandpiper 217, listed at $399,900 and purchased for $310K in 2/04 also came off the market. Nihilani 16A, which sold from the developer in 5/06 for $603,600 was withdrawn listed at $575K. Pu'u Po'a 405 listed at $1.5M was withdrawn after 301 market days. This unit last sold for $430K in 1/00. It's easy to see why it was withdrawn, given the list prices of the other Pu'u Po'a units:

Copyright 7/26/2009 by Hawaii Information Service

225541 T A 20 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
222345 T A 128 4-5-4-12-11-3 FS $1,259,000 Puu Poa #103 1,354 #103 2/2
200456 T A 690 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
202256 T A 624 4-5-4-12-11-7 FS $1,490,000 Puu Poa #107 2,065 #107 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Hanalei Bay Resort 8 was temporarily withdrawn while listed at $875K for the whole unit or $465K for a 6 month fractional share. This unit last sold for $730K in 6/05.

Our price changes start off with Ka'iulani 67 which last sold for $895K in 1/08 and reduced from $1.049M to $994,500. Several of the fractional units reduced the first of which is Plantation 621 which went from $165K to $150K. Villas of Kamali'i 42 reduced from $250K to $185K and from $265K to $199K while Plantation 921 went from $200K to $190K. Keep in mind these are all 2 month fractional shares.

Sandpiper 111, which sold for $215K in 2/03 is a short sale which reduced from $299K to $275K. Hale Moi 115, with a purchase price of $444,500 in 12/4, is a short sale which reduced from $425K to $325K. Quite a reduction, which bring it's more in line with the other Hale Moi listings. Hale Moi 208 which last sold $215K in 11/01, reduced from $425K to $399K. Take a look at how these two units stack up with the other listings:

Copyright 7/26/2009 by Hawaii Information Service

224707 T A 41 4-5-4-12-2-16 FS $314,000 Hale Moi #116 1,033 #116 1/2
225976 T A 8 4-5-4-12-2-15 FS $325,000 Hale Moi #115 1,033 #115 1/2
204020 T A 605 4-5-4-12-2-28 FS $399,000 Hale Moi #208 1,033 #208 2/2
209061 T A 460 4-5-4-12-2-6 FS $450,000 Hale Moi #106 1,033 #106 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Nihilani 17B, a 3 bedroom 2.5 bath Hoku unit which last sold on 7/06 for $637,113 reduced a small amount from $519K to $515K as did Pali Ke Kua 105, which went from $749K to $745K. This unit last sold on 8/07 for $795K. On to your Princeville home update:

Copyright 7/26/2009 by Hawaii Information Service

NEW LISTINGS
225957 RS A 5 4-5-4-18-31 FS $695,000 4226 Kina'u Pl 11,078 sqft 3,496 4/5

CONTINGENT SALES
221222 RS C 146 4-5-4-25-4 FS $2,800,000 5174 Hanalei Plantation 16,307 sqft 4,215 3/3

SALES
219148 RS S 144 4-5-4-15-16 FS $588,900 3834 Haulani Pl 11,020 sqft 2,048 3/3
SOLD 7/21/2009 for $567,000 (CNV) DOM 144

212844 RS S 346 4-5-4-22-5 FS $639,000 4077 Cr Pauahi Pl/nalani 10,270 sqft 2,169 4/2
SOLD 7/23/2009 for $589,000 (CNV) DOM 346

WITHDRAWN
222510 RS W 99 4-5-4-23-76 FS $729,000 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5

PRICE CHANGES
203978 RS A 612 4-5-3-11-41 FS $899,000- 4120 Aloalii Dr 9,103 sqft 2,521 3/3.5
220252 RS A 184 4-5-3-12-42 FS $995,000- 4046 Aloalii Dr 8,041 sqft 1,603 2/2.5
220384 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
220383 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
220380 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
220378 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
219340 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
219338 SH A 215 4-5-4-15-3 FS $329,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
219081 SH A 224 4-5-4-16-22 FS $345,000- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
220376 SH A 224 4-5-4-16-22 FS $355,000- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
220375 SH A 224 4-5-4-16-22 FS $355,000- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
221534 RS A 131 4-5-4-13-48 FS $799,000- 3677 Keoniana Rd 11,432 sqft 2,066 3/2.5
224854 RS A 44 4-5-4-19-19 FS $799,800- 5086 Napo'okala Cir 15,326 sqft 2,206 3/3
224966 SH A 94 4-5-4-15-3 FS $919,000- 3979 Kamehameha Rd 10,772 sqft 3,558 5/3.5
224967 SH A 224 4-5-4-16-22 FS $945,500- 4080 Kaa'humanu Pl 9,731 sqft 2,460 4/3.5
192009 RS A 881 4-5-4-10-27 FS $1,225,000- 5222 Honoiki Rd 10,174 sqft 2,860 3/4
221404 RS A 154 4-5-4-14-32-5 FS $1,580,000- 3875 Kamehameha Rd #5 10,332 sqft 3,709 6/6
222510 RS W 99 4-5-4-23-76 FS $729,000- 3789 Mapuana Pl 6,398 sqft 1,535 3/2.5

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

The new listing on Kina'u Place for $695K looks like it has a lot to offer at that price. The location is superb but the home was built in 1979 and has some water damage to the kitchen. But still, it's worth a look!

Have a great week and don't forget to call or email to get the facts.

Aloha Elaine

I enjoyed this beautiful sunset last night while out walking.

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!

Aloha,

Every week we see more and more short sales and foreclosures with some excellent pricing. Case in point is one of the new listings this week at Nihilani. What surprises me is that buyers aren't jumping on these properties. If I didn't already own in Nihilani (sigh...compared to today's market I paid waaaaay too much) I'd buy a unit myself. I don't know if it's the perception that pricing will continue to go down or what but buyers seem to be just sitting on the sidelines. While it may be "quiet" now, I can assure you that when the turn comes, with properties priced as they are, the agents will be working 24/7 to keep up with the buying requests. The moral there is; get in now when it's quiet and you can leverage the current buyer disinterest to your advantage. Sellers are eager to please these days and will welcome any serious buyer with an offer. That opportunity does not always exist. Here's your update for this week:

Copyright 7/18/2009 by Hawaii Information Service

NEW LISTINGS
225976 T A 0 4-5-4-12-2-15 FS $425,000 Hale Moi #115 1,033 #115 1/2
225806 T A 2 4-5-4-5-24-40 FS $489,900 Nihilani At Princeville Resort #14A 1,874 #14A 3/2.5
225762 T A 3 4-5-4-5-39-169 FS $665,000 Cliffs At Princeville #7305 1,137 #7305 2/2

BACK ON THE MARKET
222926 T A 98 4-5-4-5-24-66 FS $569,000 Nihilani At Princeville Resort #22C 1,874 #22C 3/2.5

SALES
223314 T S 59 4-5-4-6-1-44 FS $678,999 Villas Of Kamalii #44 1,825 #44 3/3
SOLD 7/13/2009 for $600,000 (CASH) DOM 59

EXPIRED
196541 T X 697 4-5-4-12-10-25 FS $550,000 Emmalani Court #413 952 #413 1/2
212665 T X 391 4-5-4-12-11-2 FS $1,595,000 Puu Poa #102 1,352 #102 2/2

WITHDRAWN
220019 T W 148 4-5-3-6-22-20 FS $2,650,000 Kaiulani Of Princeville #20 2,864 #20 3/3.5
216718 T W 283 4-5-4-5-24-50 FS $565,000 Nihilani At Princeville Resort #17B 1,567 #17B 2/2.5

TEMPORARILY WITHDRAWN
216338 T T 292 4-5-4-5-3-13 FS $385,000 Princeville Paniolo #113 1,058 #113 1/2

PRICE CHANGES
222340 SH A 22 4-5-4-5-23-23 FS $150,000- Plantation At Princeville #621 1,318 #621 3/3
211355 T A 428 4-5-4-12-5-5 FS $749,000- Pali Ke Kua Incr I, ii, iii #105A 717 #105A 1/1

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

Hale Moi 115 is new, listed at the price of $425K which is well above what 216 is listed at. 216 is completely - and I do mean completely - updated with new kitchen and bathroom cabinets, stainless steel appliances, granite tile countertop, new paint, carpets and on and on...and it's an upstairs unit with a loft in the living area listed for $345K. And this seller is motivated! Yes 216 is my listing, which is how I know the seller is MOTIVATED. But getting back to 115 - this downstairs unit was purchased for $444,500 on 12/04 and has not been updated.

Nihilani 14A is the buy of the week, listed as a foreclosure at $489,900. While not as highly upgraded as some of the other Makani units, this model has been selling in the mid $500's to $600's rin both resales and developer sales. 14A was purchased as both a new sales and resale in 3/06. The developer's sale was for $688,555 and was flipped the same day to the current owner (before the bank took it over) for $761,450 netting the original owner a tidy and quick profit. It has been listed numerous times before starting with 7/06 to 11/06 for $849,900 in another flipping attempt; again from 2/07 to 8/07 starting at $879K and reducing to $829K, and finally from 8/07 to 7/08 when it started at $819K and ended at $769K when it was withdrawn. It is now bank owned and very very well priced.

Cliffs 7305, a top floor unit, is listed at $665K and last sold for $242K in 8/00. It was previously listed for 609 days from 8/07 to 4/09 during which time it went from $875K to $745K before being withdrawn.

The Nihilani short sale of unit 22C is back on the market at the same price of $569K after expiring. This unit last sold in 11/06 for $848,956. There were no new escrow this week and only one closing on Villas of Kamali'i 44 which was a foreclosure. This unit sold for $739K in 5/05, was taken by the bank on 6/09 and closed for $600K.

Emmalani Court 413, which last sold for $565K in 7/05 expired listed at $550K as did Pu'u Po'a 102, listed at $1.595M. This unit last sold for $1.4M in 5/05 leaving this seller with very little room for negotiation if they wished to make a profit. Unfortunately with 404 listed at $1.095M, which is a top floor remodeled unit (102 is also remodeled) it is unlikely a buyer would pay that much more for a lower level unit. 404 remains a steal given that 411 just sold for $1.3M. Take a look and see how 404 stacks up against the other units on the market:

Copyright 7/19/2009 by Hawaii Information Service

225541 T A 13 4-5-4-12-11-46 FS $1,095,000 Puu Poa #404 1,352 #404 2/2
222345 T A 121 4-5-4-12-11-3 FS $1,259,000 Puu Poa #103 1,354 #103 2/2
200456 T A 683 4-5-4-12-11-14 FS $1,425,000 Puu Poa #114 2,065 #114 2/2
202256 T A 617 4-5-4-12-11-7 FS $1,490,000 Puu Poa #107 2,065 #107 2/2
216008 T A 296 4-5-4-12-11-47 FS $1,500,000 Puu Poa #405 1,800 #405 2/2

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

This is another unit, much like the Nihilani 14A, that I can't believe is still on the market. If you're on Island and want to see it just give me a call (yes, this is my listing too) or feel free to come by the broker's open on Wednesday the 22nd in the morning.

Ka'iulani 20 was withdrawn after 148 market days with a list price of $2.650M and a sale price of $1,985,180 in 11/07. Nihlani 17B was withdrawn listed at $565K. This unit last sold for $637,113 in 7/06. Paniolo 113 was temporarily withdrawn listed at $385K. This unit was purchased as a leasehold in 6/00 for $115K at which time it was converted to fee simple for $31,500.

There were only a couple of price changes this week, starting with Plantation fractional 621 which went from $165K to $150K. This unit sold for $550K in 8/05. Also reducing is Pali Ke Kua 105 which went from $828K to $749K. It dropped a few more dollars on Sunday going to $745K. What's interesting about this unit is that when it was listed back in 07, no one looked at it while listed at $995K but as soon as it reduced in one $200K drop to $795K, it sold. For some reason once the buyer became the owner, it appeard to them that someone would do what they themselves would not do, which was - pay more than $795K because they put it back on the market in 5/08 listed for $1.1M and it's been on a downward trend since then.
Here is your Princeville homes update:

Copyright 7/18/2009 by Hawaii Information Service

NEW LISTINGS
225837 RS A 3 4-5-4-7-6 FS $1,895,000 3932 Namakeha Lp 12,575 sqft 2,848 4/3.5

WITHDRAWN
222875 RS W 97 4-5-4-18-24 FS $825,000 4679 Emmalani Dr 11,128 sqft 1,861 4/3

PRICE CHANGES
223822 RS A 75 4-5-4-13-6 FS $613,100- 3695 Kaweonui Rd 11,121 sqft 2,492 4/2
210765 RS A 438 4-5-4-23-24 FS $672,000- 3807 Makani Kai Pl 10,386 sqft 1,535 3/2
218860 RS A 222 4-5-4-7-5 FS $795,000- 3934 Namakeha Loop 13,387 sqft 2,047 3/2
218770 RS A 222 4-5-4-16-77 FS $899,000- 4117 Kekaulike Ln 10,650 sqft 2,878 3/2.5
210722 RS A 444 4-5-4-18-7 FS $998,000- 4170 Mahina Pl 10,751 sqft 2,310 2/3.5
221587 SH A 141 4-5-4-9-49 FS $1,150,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4
221684 RS A 141 4-5-4-9-49 FS $2,295,000- 5289 Pokii Ln 20,868 sqft 3,510 4/4

This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed.

I'm happy to see some reductions coming through in the homes considering that there are currently 81 listings with only 5 in escrow. Even worse is the fact that there have only been 7 sales, yes 7 - one for each month basically - this entire year. You do the math - unless pricing improves to the point that buyers are motivated it will take forever to deplete this inventory. And as a side note, you would think that with 81 homes on the market a serious buyer could certainly find one under $1M. I'm sorry to say that was not the case with my clients as we scoured Princeville for something with "features and benefits" instead of "issues." We haven't given up yet though.....

That's it for this week. Enjoy your own little Paradise and when you're ready to move to the real thing don't forget to call or email. BTW, I also have a great lot for sale near the Albert Road cul de sac. (Left off of Kaweonui.) Currently listed at $398K, it will post a healthy reduction tomorrow, Monday and will be the least expesive lot in Princeville. MLS 222971. Call me if you're in the market for land - or if you need the facts on any other home or condo.

Aloha Elaine

Elaine Schaefer (R, CRS, GRI, ABR)
Broker in Charge - Princeville Resort Office
Certified Residential Specialist
Graduate, Realtor's Institute
Accredited Buyer's Representative
Top Producer 100% Club

RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email:soldonkauai@yahoo.com
website: www.KauaiRealEstateNow.com
blog: http://blogs.alohaliving.com/princeville-condo-sales/

......you can have your own piece of paradise
ask me how!